ABSTRACT
Since the outbreak of the global financial crisis in 2008, the continuous slowdown in China's economic growth rate has become a much-discussed topic among scholars both at home and abroad. China may still maintain medium to high growth for a long period of time. The transition in China's growth stages will not be a smooth process. During the period of transition in growth stages, the change in economic growth drivers and growth regression can easily accumulate and trigger risks. Meanwhile, government's efforts are shifted to creating a favorable environment for market mechanisms to function. This includes the following four aspects. First, the government stimulates market vitality and its intrinsic dynamism through reform. Second, the government creates a favorable environment for innovation. Third, the government implements more stringent societal regulations on environment, quality and safety. Fourth, the government effectively improves the social security system and prevents fiscal and financial risks.
